Segall Bryant & Hamill LLC Takes $30.75 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segall Bryant & Hamill LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 154,779 shares of the transportation company’s stock, valued at approximately $30,745,000. Segall Bryant & Hamill LLC owned about 0.07% of Old Dominion Freight Line at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ODFL. Sequoia Financial Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Kinsale Capital Group Inc. increased its holdings in Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after buying an additional 3,614 shares during the last quarter. Truist Financial Corp raised its position in Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after acquiring an additional 7,460 shares in the last quarter. Ground Swell Capital LLC grew its position in shares of Old Dominion Freight Line by 262.6% in the 3rd quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after acquiring an additional 4,853 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $1,404,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.0 %

Shares of ODFL opened at $211.80 on Wednesday. The stock’s 50-day moving average price is $202.22 and its two-hundred day moving average price is $191.77. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a market capitalization of $45.22 billion, a PE ratio of 37.03, a PEG ratio of 4.51 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Finally, Robert W. Baird decreased their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $200.00.

Insider Activity

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,975 shares of company stock worth $10,062,478. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.